204 Main AveTillamook, OR 97141

Property Details for 204 Main Ave

Year built

1925

Lot size

0.08 AC

Property size (Sq ft)

3,297 SF

Zone code

TM-C-C

Property type

Retail properties

Property subtype

Turn key restaurants

APN

1S1025-AD-10000

APU

1S1025AD10000

Description

This exceptional commercial property, located at 204 MAIN Ave Unit 204 in Tillamook, Oregon, presents a unique investment opportunity. The 6,656 square foot building sits on a 0.08-acre lot and is currently operating as a successful restaurant and lounge. The main level encompasses 3,296 square feet, featuring a front dining room and a rear lounge area popular for live entertainment and dancing. The business enjoys consistent clientele and a reputation for its lively atmosphere. A significant advantage is the convenient access to a city parking lot located directly behind the building, ensuring ease of access for both customers and deliveries. Furthermore, a substantial 3,360 square foot dry basement provides ample storage space and an office area. The property boasts a prime location on Highway 101, in the heart of Tillamook, offering exceptional visibility to the high volume of traffic. This strategic positioning, at a traffic light where many visitors slow down to turn onto Highway 6 towards Portland, guarantees significant exposure. The property is well-maintained and benefits from a dedicated and happy staff. The current owners are willing to consider financing options for qualified buyers. This is a rare opportunity to acquire a thriving, established business with significant growth potential in a desirable coastal location. The property's combination of high visibility, convenient location, and substantial space makes it an ideal investment for a discerning buyer.

• CAP approach

  CAP return

  Valuation

  6%

  $890,380

  6.5%

  $821,890

  7%

  $763,183

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,308,613

  Geo Method

  $1,600,039

• Alternative Use

  Use

  Valuation

  Residential

  $693,295

  Hospitality

  $635,054

  Educational

  $528,358

  Medical

  $546,529

  Retail

  $821,890

Location Insight

City

Tillamook

County

Tillamook

State

Oregon

Latitude

45.4568

Longitude

-123.844

Property Tax & Assessments

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